Protecting Yourself from Central Bankers
Renowned author Robert Kiyosaki, best known for his book "Rich Dad Poor Dad," has issued a stern warning to investors about the safety of fiat money. Kiyosaki emphasizes that central banks are buying gold as a means to protect themselves, not the general public. In light of this, he strongly advises investors to safeguard their assets by investing in gold, silver, and bitcoin.
The Influence of Central Banks
Kiyosaki expresses his concern over the actions of central banks, particularly the Federal Reserve (Fed), in relation to gold purchases. He points out that while central banks are increasing their gold reserves, it does not imply that fiat money is safe. Rather, Kiyosaki believes that central bankers are saving themselves from their own incompetence. Their primary responsibility is to protect the banks, not individual investors. Therefore, Kiyosaki urges investors to become knowledgeable and take steps to protect themselves from the impact of central bankers by investing in gold, silver, and bitcoin.
Central Banks' Appetite for Gold
According to the World Gold Council, central banks worldwide have continued to show a strong appetite for gold. In the third quarter alone, they purchased a total of 337 metric tons of gold. This trend has contributed to a record-high year-to-date gold purchase of 800 metric tons. These figures highlight the growing importance of gold in the eyes of central banks.
Avoiding Fiat Currency Risks
Kiyosaki has consistently expressed skepticism towards fiat currencies, referring to them as "fake money." In contrast, he regards gold and silver as "God's money" and considers bitcoin as "people's money." In September, Kiyosaki declared that cryptocurrency is the future and predicted the downfall of fiat money. He strongly advises investors to diversify their portfolios by investing in gold, silver, and bitcoin as a means of safeguarding their wealth.
The Impending Demise of the U.S. Dollar
Kiyosaki has long been critical of the U.S. dollar and its future prospects. He blames the Federal Reserve for causing inflation and ultimately collapsing the U.S. economy. In July, he boldly predicted the imminent demise of the U.S. dollar. Additionally, in April, he warned of the impending death of the U.S. dollar, stating that America itself is in decline. Kiyosaki also believes that once the Fed introduces a central bank digital currency (CBDC), bitcoin will become invaluable.
Share Your Thoughts
What are your thoughts on Robert Kiyosaki's assertion that fiat money is not safe? Do you agree with his advice to invest in gold, silver, and bitcoin? Share your opinions in the comments section below.
CFTC
wsj.com
- Saddam Hussein's Invasion Helped Uncage a Bear In 1990 – WSJ
- Do you want to keep your IRA gold at home? It's Not Exactly Lawful – WSJ
law.cornell.edu
- 7 U.S. Code SS7 – Designation of boards for trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement plans
How To
Guidelines for Gold Roth IRA
It is best to start saving early for retirement. Start saving as soon and as often as you're eligible (usually around 50 years old) and keep going until retirement. To ensure sufficient growth, it is vital that you contribute enough each year.
You also want to take advantage of tax-free opportunities such as a traditional 401(k), SEP IRA, or SIMPLE IRA. These savings vehicles allow you to make contributions without paying taxes on earnings until they are withdrawn from the account. This makes them a great choice for people who don’t have access employer matching funds.
Save regularly and continue to save over time. If you don't contribute the maximum amount, you will miss any tax benefits.
—————————————————————————————————————————————————————————————-
By: Kevin Helms
Title: Is Fiat Money Safe? Robert Kiyosaki Says ‘Hell No'
Sourced From: news.bitcoin.com/robert-kiyosaki-fiat-money-isnt-safe-investors-must-protect-themselves-from-central-bankers/
Published Date: Wed, 15 Nov 2023 03:00:41 +0000
